Government uses urges insurers to expedite Ditwah-related settlements

Industry regulator IARIT HAS have urged insurers to expedite Ditwah-related settlements, Fitch Ratings has said that the exposure to flood and landslide risks were in fact limited.

Motor insurance accounted for 46.8% of total general insurance premiums in the third quarter of 2025, remaining the dominant segment. Health insurance followed with a 15.2% share, while Strike, Riot and Civil Commotion (SRCC) insurance contributed 14.3%. Fire insurance represented 11.9% of total premiums, other insurance categories accounted for 8.5%, and marine insurance made up the remaining 3.4% of the total.

Fitch Ratings yesterday said insurance losses arising from recent flooding due to Cyclone Ditwah are likely to be limited for most rated insurers in Sri Lanka, because of low retention levels in the non-motor segment and reinsurance protection.

However, the country’s sole local reinsurer, National Insurance Trust Fund Board (NITF, BBB (lka)/Stable), is more exposed to losses due to its lack of retrocession cover.

 

 

Spread the love
Tags:

Leave A Comment